Huobi Global has announced the formation of a new global advisory board comprising a five-person team. The development comes after the move by About Capital Management to purchase a majority stake in the crypto exchange platform.
According to the announcement, Huobi Global believes that setting up a well-diversified advisory board with a global vision and international resources is an enabler to the success of the platform’s global expansion. This comes as the exchange remains conscious of the ever-changing dynamics of the blockchain industry.
“…in particular, we welcome industry leaders who sync with blockchain technology and industry development to stay ahead of the competition.”
The announcement revealed that five board members constitute a group of industry leaders across the blockchain and traditional organizations.
They include the CEO of About Capital Management, Ted Chen; Huobi
Global co-founder Du Jun; Vice President of the Hong Kong University of Science and Technology Wang Yang; Tron blockchain network founder Justin Sun; and CEO of Valkyrie Investments, Leah Wald.
It is imperative to note that the selection happened after extensive engagement with international candidates for the advisory board. The advisory board comes in to guide Huobi Global’s business and development goals while at the same time paving the way for the exchange’s strategic roadmap for global expansion.
“The board will help guide the exchange’s global expansion plans now that About Capital Management has acquired the lion’s share of Huobi Global.”
It remains unknown, however, whether the advisory board members are all shareholders of Huobi Global.
“…They may also include shareholders of Huobi Global, leaders in the traditional financial industry, experts and scholars, and established figures from political and business circles.”
Capital’s Entry Will Not Affect The Huobi’s Operations
While the announcement details Huobi Global sold the lion’s share of its stake to the Hong Kong-based asset management firm, there is no revelation on the acquisition amount or specific investors.
The acquisition is not expected to affect Huobi’s core operations or management team. The Huobi announcement read:
“About Capital will inject the exchange with sufficient capital in margin and risk provision fund.”
Huobi Global has made a name for itself as a leading crypto exchange. In 2018, the exchange ranked fourth worldwide after recording 100,000 daily active users. Despite this record of accomplishment, the exchange terminated its operation in China following the Chinese government’s ban on crypto. According to data from CoinMarketCap, Huobi’s Global ranks as the 14th exchange on the 24-hour trading volume metric. This is attributed to the exchange’s relentless expansion efforts.
From the announcement, it can be deduced that the five advisory members have accepted the appointment. It notes:
“We are grateful to the five advisory members for recognizing Huobi Global and agreeing to take the position.”
The exchange seeks to tap from the advisors’ wealth of experience and wisdom in business, marketing, branding, compliance, and risk control. Their proven experience, both individual and combined, with their top resources and global vision, will undoubtedly be a valuable addition to Huobi Global and catapult the exchange to an unprecedented level.
“We are confident that Huobi Global will gain the trust of more international users and reward our global community with its new initiatives.”
With this, Huobi Global assures users of continued expansion and its commitment to attracting international leaders that will be an enabler to the platform’s future. The platform is committed to strengthening institutional cooperation while enhancing brand influence and market competitiveness.
